Under what condition is an agency relationship terminated according to a listing agreement?

An agency relationship established through a listing agreement is typically terminated when the listing expires. In real estate transactions, listings have a defined time period during which the agent has the authority to represent the seller and market the property. Once this term ends without renewal, the agency relationship automatically terminates, releasing both the seller and agent from their obligations under the agreement.

The other choices, while they may influence the dynamics of the transaction, do not inherently terminate the agency relationship. For example, the acceptance of an offer leads to a purchase agreement but does not end the listing agreement unless specified. Similarly, if another broker shows the property, it does not affect the original agency relationship until the listing itself expires. Lastly, a counteroffer does not terminate the existing agency relationship; it merely alters the terms of negotiation between parties involved in a transaction. Thus, expiration of the listing is the condition that definitively concludes the agency relationship.